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Barway Road, Barway, Ely, Cambridgeshire, CB7 - Image 1
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Barway Road, Barway, Ely, Cambridgeshire, CB7

East of England

£500,000
Listed on 22/08/2024

Property Details

Bedrooms
N/A
Type
Detached house
Area
1313 sqft

Description

This property presents a unique opportunity for those interested in renovation and investment. Set on a generous one-acre plot with planning consent for a significant dwelling, it offers the potential to create a custom home that capitalizes on its picturesque lake frontage and scenic views. Located in the emerging village of Barway, just south of Ely, this plot is part of a newly developed area featuring high-value properties. The planning permission granted under East Cambs reference number 16/00702/FUL allows for considerable expansion beyond the existing modest structure, which currently includes four bedrooms—two equipped with en-suite facilities—a kitchen breakfast room, utility space, dining room, study, and a living room with bifold doors that open to gardens overlooking the lake. The land itself is divided into two sections: half designated for building under current planning permissions and the other half featuring mixed woodland with direct access onto Barway Road. Additionally, there is an option to separately negotiate for five extra acres that encompass a well-stocked leisure lake complete with islands and banks. While some conditions must be addressed to comply with planning regulations—such as contamination assessment and biodiversity considerations—the groundwork has already been laid as certain requirements have been met. Utility connections for water, electricity, and sewage are available nearby on Barway Road. The property's location enhances its appeal further; Ely city center is approximately five miles away and boasts established rail links to major cities including Norwich, Cambridge, Peterborough, Birmingham, and London. With Cambridge only about 15 minutes by train and London Kings Cross within an hour and fifteen minutes reach, this area is not only tranquil but also conveniently connected. For investors or developers looking to make their mark in a growing community with significant potential returns, this plot represents a practical canvas ready for transformation.

Investment Analysis

(CB7 area)

Above Market Value

This property is priced +15.9% above area average per sq ft

+15.9%
This Property
£381/sq ft
Area Average
£329/sq ft
Avg Rent (weekly)
£269
Avg Yield
4.3%

Renovation Potential

Heavy Refurb
Est. Renovation Cost
£200,000 - £350,000
Target Value
£474,525
10% above area average per sq ft
Potential ROI
-44.2%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
27
Average per month
Market Turnover
14%
Properties sold annually

Local Market Trend (CB7)

Area prices are falling by +4.1% over the last 12 months
3 year growth: -5.3%
5 year growth: 6.1%
Investment Disclaimer: Analysis based on CB7 area averages and may not reflect property-specific factors like condition, exact location, or unique features. Any renovation cost estimates provided are AI-generated and should be considered indicative only. Renovation costs vary significantly based on property condition and scope of work. Always conduct professional surveys and get multiple quotes before making investment decisions.

Location

Barway Road, Barway, Ely, Cambridgeshire, CB7
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Mortgage Calculator

£
£
£
%
%
years

Current average 2-year fixed rate is 4.19%

Current average variable rate is 6.78%

Monthly Repayments
£1,832
Based on a loan of £375,000 over 30 years at 4.19% interest

These results are estimates and are only intended as a guide. Make sure you obtain accurate figures from your lender before committing to any mortgage. Your home may be repossessed if you do not keep up repayments on a mortgage.

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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE